{ "ticker": { "uuid": "e5419fdf-428f-44f1-94c2-a75fbb211f3d", "symbol": "NBFC", "name": "NEUBERGER FLEXIBLE CREDIT INCOME ETF", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "SPY", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 67.277, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 47.729, "architecture_energy": 21.349, "architecture_maturity": 17.159, "architecture_confidence": 72.356, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 46.68, "rotation_up": 30.02, "upward_expansion": 52.78, "deceleration": 87.48, "rotation_down": 33.89, "downward_expansion": 23.45 }, "activity_lines": [ 50.31391, 50.327558, 50.318438, 50.250906 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.333333 }, "latest_close": 50.6556, "trend_reference": 50.215095, "distance_from_trend": 0.008772, "trend_direction": "Improving", "fair_value": 47.73724, "distance_from_fair_value": 0.061134, "fair_value_direction": "Weakening", "relative_strength": -9.522673, "relative_strength_direction": "Weakening", "price_momentum": 0.00558, "excess_performance": -0.120045, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.008772, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.004036, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.061134, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.000444, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.095227, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.004727, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.00558, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.598824, "read": "Supply-led" } ], "volume": { "latest": 7068, "relative_activity": 1.547302, "balance": 0.598824, "dry_up": 1.330575, "accumulation_observations": 1, "distribution_observations": 4 }, "risk": { "range_context": 0.005698, "annualized_volatility": 0.043215, "from_high_reference": -0.043857, "from_low_reference": 0.048493 }, "levels": { "trend_reference": 50.215095, "fair_value_reference": 47.73724, "structural_low": 49.161783, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 2, "median_return": 0.00372, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": -0.020495, "regime_survival": 0.5, "best_return": 0.007178, "worst_return": 0.000261, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 1, "median_return": -0.003744, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.041385, "regime_survival": 1.0, "best_return": -0.003744, "worst_return": -0.003744, "sufficient": false }, { "horizon": "Extended", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 0, "median_return": null, "positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-02", "end": "2026-03-06", "tenure": "Developing", "return": -0.001564, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-03-13", "end": "2026-04-17", "tenure": "Developing", "return": 0.023882, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-04-24", "end": "2026-06-12", "tenure": "Developing", "return": 0.005972, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-06-19", "end": "2026-07-17", "tenure": "Developing", "return": -0.007288, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.012318, "active": true } ], "chart_path": [ { "date": "2024-06-28", "close": 43.434483, "volume": 1000893, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-05", "close": 43.696724, "volume": 31, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-12", "close": 43.992461, "volume": 1605, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-19", "close": 43.900391, "volume": 124, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-07-26", "close": 44.075594, "volume": 17, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-02", "close": 44.313304, "volume": 6, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-09", "close": 44.274094, "volume": 20, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-16", "close": 44.600781, "volume": 8002, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-23", "close": 44.882494, "volume": 45, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-08-30", "close": 44.902754, "volume": 15, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-06", "close": 45.002724, "volume": 7915, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-13", "close": 45.183839, "volume": 46, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-20", "close": 45.398947, "volume": 1969, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-09-27", "close": 45.449364, "volume": 2022, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-04", "close": 45.353992, "volume": 786, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-11", "close": 45.282698, "volume": 317, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-18", "close": 45.397457, "volume": 18, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-10-25", "close": 45.179247, "volume": 5, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-01", "close": 45.110338, "volume": 1016, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-08", "close": 45.557795, "volume": 1159, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-15", "close": 45.347096, "volume": 108, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-22", "close": 45.549257, "volume": 78, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-11-29", "close": 45.857434, "volume": 4, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-06", "close": 46.046404, "volume": 727, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-13", "close": 45.832605, "volume": 113, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-20", "close": 45.521979, "volume": 123, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2024-12-27", "close": 45.563126, "volume": 1223252, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-03", "close": 45.761548, "volume": 34, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-10", "close": 45.551576, "volume": 251, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-17", "close": 45.895724, "volume": 3134, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-24", "close": 46.0336, "volume": 36, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-01-31", "close": 46.223446, "volume": 27, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-07", "close": 46.308692, "volume": 5139, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-14", "close": 46.463659, "volume": 17, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-21", "close": 46.418358, "volume": 85, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-02-28", "close": 46.708104, "volume": 484, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-07", "close": 46.504883, "volume": 249, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-14", "close": 46.254099, "volume": 20, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-21", "close": 46.382458, "volume": 1000, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-03-28", "close": 46.239312, "volume": 479, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-04", "close": 45.632544, "volume": 520, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-11", "close": 45.061328, "volume": 2078, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-18", "close": 45.548672, "volume": 402, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-04-25", "close": 46.074323, "volume": 3695, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-02", "close": 46.081252, "volume": 67, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-09", "close": 46.172903, "volume": 72, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-16", "close": 46.629404, "volume": 26, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-23", "close": 46.462824, "volume": 1879, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-05-30", "close": 46.841672, "volume": 2759, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-06", "close": 46.924452, "volume": 218, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-13", "close": 47.082573, "volume": 2330, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-20", "close": 47.208138, "volume": 767, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-06-27", "close": 47.564064, "volume": 69, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-04", "close": 47.802304, "volume": 1240, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-11", "close": 47.657264, "volume": 4988, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-18", "close": 47.880625, "volume": 11788, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-07-25", "close": 48.13917, "volume": 4249, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-01", "close": 48.293925, "volume": 13106, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-08", "close": 48.2895, "volume": 6124, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-15", "close": 48.421039, "volume": 776, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-22", "close": 48.585817, "volume": 453, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-08-29", "close": 48.652978, "volume": 369, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-05", "close": 48.880196, "volume": 2128, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-12", "close": 49.126159, "volume": 1557, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-19", "close": 49.149354, "volume": 7579, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-09-26", "close": 49.094233, "volume": 1376, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-03", "close": 49.237059, "volume": 2749, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-10", "close": 48.882659, "volume": 9461, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-17", "close": 49.252104, "volume": 76778, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-24", "close": 49.427495, "volume": 1694, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-10-31", "close": 49.399812, "volume": 18823, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-07", "close": 49.388993, "volume": 21540, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-14", "close": 49.37195, "volume": 10123, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-21", "close": 49.467506, "volume": 8047, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-11-28", "close": 49.696873, "volume": 1785, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-05", "close": 49.750098, "volume": 2257, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-12", "close": 49.721705, "volume": 2354, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-19", "close": 49.872159, "volume": 8128, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2025-12-26", "close": 50.008634, "volume": 1613, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-01-02", "close": 50.005223, "volume": 15913, "typical_volume": 9736.35, "trend": 48.843654, "fair_value": 46.777398, "relative_strength": -5.842764, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.110389, "energy": 49.21594, "activity_lines": [ 49.924709, 49.787414, 49.560719, 49.291555 ] }, { "date": "2026-01-09", "close": 50.188977, "volume": 6326, "typical_volume": 10030.0, "trend": 48.9472, "fair_value": 46.819516, "relative_strength": -6.817716, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.702353, "energy": 55.471163, "activity_lines": [ 50.030513, 49.882083, 49.64076, 49.37835 ] }, { "date": "2026-01-16", "close": 50.237621, "volume": 127326, "typical_volume": 16377.85, "trend": 49.048183, "fair_value": 46.8612, "relative_strength": -6.284696, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.908716, "energy": 92.694207, "activity_lines": [ 50.123274, 49.971249, 49.717799, 49.461603 ] }, { "date": "2026-01-23", "close": 50.31356, "volume": 580, "typical_volume": 16300.45, "trend": 49.139833, "fair_value": 46.902795, "relative_strength": -5.72783, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.493972, "energy": 92.584262, "activity_lines": [ 50.206953, 50.058791, 49.794525, 49.54324 ] }, { "date": "2026-01-30", "close": 50.349513, "volume": 5897, "typical_volume": 16517.45, "trend": 49.22474, "fair_value": 46.943827, "relative_strength": -5.918534, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 79.6529, "energy": 92.337105, "activity_lines": [ 50.27319, 50.135751, 49.867849, 49.621284 ] }, { "date": "2026-02-06", "close": 50.374499, "volume": 5599, "typical_volume": 16418.45, "trend": 49.315315, "fair_value": 46.984188, "relative_strength": -5.569417, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.180864, "energy": 90.891681, "activity_lines": [ 50.32503, 50.201217, 49.937727, 49.695462 ] }, { "date": "2026-02-13", "close": 50.492082, "volume": 9203, "typical_volume": 16809.8, "trend": 49.402363, "fair_value": 47.024978, "relative_strength": -4.044972, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.684938, "energy": 71.820401, "activity_lines": [ 50.391446, 50.275741, 50.01297, 49.771382 ] }, { "date": "2026-02-20", "close": 50.558811, "volume": 4021, "typical_volume": 16873.4, "trend": 49.483018, "fair_value": 47.065596, "relative_strength": -4.871312, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 80.186907, "energy": 71.383439, "activity_lines": [ 50.459898, 50.348907, 50.087911, 49.845992 ] }, { "date": "2026-02-27", "close": 50.444893, "volume": 13459, "typical_volume": 17073.3, "trend": 49.554717, "fair_value": 47.103997, "relative_strength": -4.466847, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.310744, "energy": 66.116182, "activity_lines": [ 50.468964, 50.386141, 50.14571, 49.908048 ] }, { "date": "2026-03-06", "close": 49.927013, "volume": 378, "typical_volume": 13253.3, "trend": 49.609301, "fair_value": 47.135717, "relative_strength": -3.354084, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 50.285642, "energy": 47.119731, "activity_lines": [ 50.296649, 50.318801, 50.146746, 49.932067 ] }, { "date": "2026-03-13", "close": 49.504321, "volume": 6451, "typical_volume": 13491.15, "trend": 49.64541, "fair_value": 47.162035, "relative_strength": -2.507409, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "up", "direction": 4.447057, "energy": 16.737074, "activity_lines": [ 50.011603, 50.176092, 50.104313, 49.925294 ] }, { "date": "2026-03-20", "close": 49.391118, "volume": 2059, "typical_volume": 12652.95, "trend": 49.672253, "fair_value": 47.18653, "relative_strength": -0.772624, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": -22.394835, "energy": 37.828524, "activity_lines": [ 49.746834, 50.021909, 50.050733, 49.908889 ] }, { "date": "2026-03-27", "close": 49.161783, "volume": 3322, "typical_volume": 11742.05, "trend": 49.689213, "fair_value": 47.208, "relative_strength": 1.190384, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -47.77314, "energy": 55.076656, "activity_lines": [ 49.479018, 49.840534, 49.975352, 49.875955 ] }, { "date": "2026-04-03", "close": 49.761981, "volume": 8536, "typical_volume": 11662.7, "trend": 49.718606, "fair_value": 47.235462, "relative_strength": -0.583472, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.060679, "energy": 43.823068, "activity_lines": [ 49.504403, 49.787847, 49.958216, 49.88065 ] }, { "date": "2026-04-10", "close": 50.31524, "volume": 3495, "typical_volume": 11435.1, "trend": 49.758242, "fair_value": 47.268226, "relative_strength": -2.696759, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 19.214961, "energy": 25.34951, "activity_lines": [ 49.759735, 49.845781, 49.991913, 49.919142 ] }, { "date": "2026-04-17", "close": 50.686589, "volume": 1431, "typical_volume": 11417.4, "trend": 49.809483, "fair_value": 47.304209, "relative_strength": -5.829247, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "up", "direction": 55.243152, "energy": 29.914694, "activity_lines": [ 50.112969, 49.971857, 50.05694, 49.979035 ] }, { "date": "2026-04-24", "close": 50.227273, "volume": 1835, "typical_volume": 11396.3, "trend": 49.847251, "fair_value": 47.334657, "relative_strength": -6.841729, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 38.806888, "energy": 35.736789, "activity_lines": [ 50.234279, 50.008746, 50.07351, 50.00599 ] }, { "date": "2026-05-01", "close": 50.138811, "volume": 12009, "typical_volume": 11879.05, "trend": 49.87731, "fair_value": 47.363566, "relative_strength": -7.573596, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 41.214992, "energy": 37.698244, "activity_lines": [ 50.270358, 50.034366, 50.079382, 50.0248 ] }, { "date": "2026-05-08", "close": 50.312045, "volume": 887, "typical_volume": 11517.0, "trend": 49.924956, "fair_value": 47.393653, "relative_strength": -9.049991, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 44.065966, "energy": 35.906152, "activity_lines": [ 50.299047, 50.099119, 50.099767, 50.052847 ] }, { "date": "2026-05-15", "close": 49.99577, "volume": 5099, "typical_volume": 11691.3, "trend": 49.949745, "fair_value": 47.419937, "relative_strength": -9.538995, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 41.009516, "energy": 22.749362, "activity_lines": [ 50.18564, 50.108783, 50.087935, 50.057416 ] }, { "date": "2026-05-22", "close": 50.240376, "volume": 1299, "typical_volume": 10960.6, "trend": 49.976841, "fair_value": 47.448141, "relative_strength": -9.564836, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 47.389284, "energy": 22.025155, "activity_lines": [ 50.175066, 50.161671, 50.099461, 50.076166 ] }, { "date": "2026-05-29", "close": 50.492402, "volume": 1298, "typical_volume": 10709.2, "trend": 50.013261, "fair_value": 47.478282, "relative_strength": -10.097053, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 58.961824, "energy": 30.432928, "activity_lines": [ 50.278248, 50.246999, 50.13387, 50.109428 ] }, { "date": "2026-06-05", "close": 50.31128, "volume": 5521, "typical_volume": 4618.95, "trend": 50.044004, "fair_value": 47.506057, "relative_strength": -7.857734, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 49.645414, "energy": 27.011978, "activity_lines": [ 50.303381, 50.279372, 50.149583, 50.128655 ] }, { "date": "2026-06-12", "close": 50.527215, "volume": 2019, "typical_volume": 4690.9, "trend": 50.082512, "fair_value": 47.535388, "relative_strength": -7.706908, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 63.390585, "energy": 50.437133, "activity_lines": [ 50.388995, 50.330106, 50.185512, 50.15983 ] }, { "date": "2026-06-19", "close": 50.601016, "volume": 4323, "typical_volume": 4612.2, "trend": 50.120296, "fair_value": 47.564866, "relative_strength": -8.12344, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.359848, "energy": 61.580322, "activity_lines": [ 50.484864, 50.380346, 50.227451, 50.193282 ] }, { "date": "2026-06-26", "close": 50.299851, "volume": 7812, "typical_volume": 4722.85, "trend": 50.140395, "fair_value": 47.590913, "relative_strength": -6.221374, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 55.472308, "energy": 45.131855, "activity_lines": [ 50.439995, 50.370632, 50.239511, 50.204866 ] }, { "date": "2026-07-03", "close": 50.384178, "volume": 4034, "typical_volume": 4464.4, "trend": 50.161531, "fair_value": 47.617265, "relative_strength": -7.823497, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 54.047933, "energy": 41.937635, "activity_lines": [ 50.41927, 50.383281, 50.259957, 50.220594 ] }, { "date": "2026-07-10", "close": 50.352555, "volume": 4127, "typical_volume": 4469.7, "trend": 50.18256, "fair_value": 47.642828, "relative_strength": -8.869926, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 50.736743, "energy": 28.982154, "activity_lines": [ 50.395219, 50.387329, 50.277905, 50.232918 ] }, { "date": "2026-07-17", "close": 50.23223, "volume": 12070, "typical_volume": 4400.25, "trend": 50.194562, "fair_value": 47.666804, "relative_strength": -7.429105, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 32.363281, "energy": 17.282533, "activity_lines": [ 50.328308, 50.365613, 50.285376, 50.236123 ] }, { "date": "2026-07-24", "close": 50.039213, "volume": 2801, "typical_volume": 4521.4, "trend": 50.195581, "fair_value": 47.688569, "relative_strength": -7.028206, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 8.621671, "energy": 12.495401, "activity_lines": [ 50.216724, 50.310254, 50.275477, 50.2261 ] }, { "date": "2026-07-31", "close": 50.124, "volume": 2373, "typical_volume": 4317.5, "trend": 50.199541, "fair_value": 47.710709, "relative_strength": -7.601416, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -14.752696, "energy": 18.157868, "activity_lines": [ 50.170855, 50.269521, 50.273119, 50.221482 ] }, { "date": "2026-08-07", "close": 50.6556, "volume": 7068, "typical_volume": 4567.95, "trend": 50.215095, "fair_value": 47.73724, "relative_strength": -9.522673, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 47.729382, "energy": 21.348527, "activity_lines": [ 50.31391, 50.327558, 50.318438, 50.250906 ] } ], "method": { "price_basis": "completed market observations", "trend": "Trend provides the primary directional reference.", "fair_value": "Fair Value provides long-term price context and is not a forecast or target.", "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.", "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read." } } }